Richards Packaging Income Fund Reports Revenue Results for the Fourth Quarter and Full Year 2021
March 08, 2022 at 05:00 pm
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Richards Packaging Income Fund reported revenue results for the fourth quarter and full year 2021. Fourth quarter revenue performance contracted 7%, better than 13% in the third quarter, on 3% organic contraction and 3% currency translation as the dollar strengthened to U.S./Cdn. 79¢, up 3¢.
The 2021 year results reflect revenue contraction of 8% driven by organic contraction of 2% and a 6% currency translation loss with the strengthening of the dollar to U.S./Cdn. 80¢. Clarion sales contributed 9% as a partial offset.
Richards Packaging Income Fund (the Fund) is a Canada-based company. The Fund owns Richards Packaging Inc. (Richards Packaging), which serves a range of customer bases throughout North America comprised of approximately 17,000 regional food, beverage, cosmetics, healthcare, and other enterprises. Richards Packaging specializes in the design, manufacture, and distribution of packaging solutions in both glass and plastic containers and closures for a variety of markets. It is engaged in the distribution of approximately 8,000 different types of packaging components and healthcare products that are sourced from over 900 suppliers and three manufacturing facilities. It sources products from glass and plastic companies both in raw materials and in finished goods. Richards Packaging services include global sourcing, inventory management, manufacturing, and packaging 101.
RICHARDS PACKAGING INCOME FUND 
